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Undergraduate admissions decisions at the University of Michigan are currently based on a system that awards applicants points for various achievements. A high score on the SAT coupled with a high secondary school GPA will yield a large number of points, and thus a greater chance of acceptance. Under the university’s affirmative action program, however, 20 points are awarded for the “achievement” of being black, Hispanic or Native American. If prospective students are of any other racial or ethnic group they have nothing to fall back on except the merits of their...

Author: By Zachary K. Goldman, | Title: Affirming Equality | 1/30/2003 | See Source »

STOCKS WITH A YIELD Winners. Even before the proposed plan, more companies were raising or starting to distribute dividends, and those firms were outperforming the overall market. Those trends would continue for years, as soon-to-retire baby boomers focused on the certainty of cash income over the promise of capital gains--as long as both are on equal tax footing. But there are complications. Last year 34 companies in the S&P 500, including Ford and Goodyear, paid a dividend though they lost money and paid no tax. Under the Bush plan, their dividends would be taxable...

Author: /time Magazine | Title: Investing: How to Play the Tax Plan | 1/20/2003 | See Source »

MUNIS AND REAL ESTATE INVESTMENT TRUSTS (REITS) Both losers. Why buy a municipal bond when you can get a higher yield and only modestly more risk with a tax-free preferred stock? REIT dividends would remain taxable. They make sense only in an IRA. --By Daniel Kadlec

Author: /time Magazine | Title: Investing: How to Play the Tax Plan | 1/20/2003 | See Source »

Meanwhile, electroconvulsive therapy (ECT), better known as shock treatment, resets the electrical state of the brain by inducing a seizure. (Despite ECT's lurid reputation, it involves mild doses of current and can be almost miraculously successful in patients whose depression will not yield to drugs.) Even old-fashioned, low-tech talk therapy can help adjust a patient's brain chemistry and lessen the severity of depression, especially in conjunction with other treatments...

Author: /time Magazine | Title: Depression: The Power of Mood | 1/20/2003 | See Source »

...MUNIS AND REAL ESTATE INVESTMENT TRUSTS (REITS) Both losers. Why buy a municipal bond when you can get a higher yield and only modestly more risk with a tax-free preferred stock? REIT dividends would remain taxable. They make sense only...

Author: /time Magazine | Title: How to Play the Tax Plan | 1/14/2003 | See Source »

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